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Emergency Loan Application and Feasibility Study [BORROWER] <br /> <br />Selected Alternative 3 – [Replacing the Berm]: The selected alternative is to design and replace <br />the berm to re-direct South Boulder Creek into its pre-flood channel. As described above, it is <br />anticipated that the design and construction will have a spillway component which will help <br />ensure that a future failure does not occur preventing significant property damages. <br /> <br />Cost Estimate <br />The Project cost estimate, provided by Lefthand Excavating Company, is $275,000 and is further <br />broken down as follows: <br /> <br />Task Cost <br />Design 25,000 <br />Permitting 25,000 <br />Construction 200,000 <br />Other <br />Contingency 25,000 <br />Total 275,000 <br /> <br />The Butte Irrigating and Milling Company is applying for a loan not to exceed $__275,000__. <br />More detailed costs estimates will be provided prior to contracting. <br /> <br />(Note: Depending on project scope, this may need to be an Engineer’s Estimate of Probable Cost <br />or a contractor’s estimate. We understand damage assessments may still be ongoing and some of <br />these cost will be rough estimates. Depending on project scope, a more detailed cost analysis <br />may be required prior to contracting.) <br /> <br />Financial Analysis <br />The Butte Irrigating and Milling Company has $0 in existing debt as summarized below: <br /> <br />Lender Original Balance Current Balance Annual Payment Maturity Date Collateral <br />n/a $0 <br /> <br /> <br />The Butte Irrigating and Milling Company sources of income include ditch assessments. <br /> <br />Note: Be sure to attach <br /> Two years of financial statements (required) <br /> Shareholder list (showing owner name, # of shares owned, and identify each owner as <br />agricultural or municipal) <br /> Articles of Incorporation/By-laws